Student Assistance General Provisions, Federal Family Education Loan Program, and William D. Ford Federal Direct Loan Program – Federal Register (unpublished)
SUMMARY: The Department of Education (Department or We) establishes new Institutional Accountability regulations governing the William D. Ford Federal Direct Loan (Direct Loan) Program to revise a Federal standard and a process for adjudicating borrower defenses to repayment claims for Federal student loans first disbursed on or after July 1, 2020, and provide for actions the Secretary may take to collect from schools the amount of financial loss due to successful borrower defense to repayment loan discharges. The Department also amends regulations regarding predispute arbitration agreements or class action waivers as a condition of enrollment, and requires institutions to include information regarding the school’s internal dispute resolution and arbitration processes as part of in the borrower’s entrance counseling.